Chinese companies agree to develop LNG in Alaska

According to multiple sources, Sinopec, alongside one of China’s top banks, and its sovereign wealth fund have agreed to help develop Alaska's LNG sector.

Alaska Gasline Development, the State of Alaska, Sinopec, China Investment Corp and the Bank of China have signed an agreement to advance LNG in Alaska.

The agreement will involve an investment of up to US$43 billion, creating up to 12 000 US jobs during construction, reducing the trade deficit between the US and Asia by US$10 billion a year, and give China clean energy.

AGDC is building a gas treatment plant, a 1287 km pipeline to south central Alaska for in-state use, and a liquefaction plant in Nikiski to produce up to 20 million tpy of LNG for export.